One of the most common concerns when it comes to retirement planning is: “Will I have enough money at the end of my life?” This leads some individuals to save more than they need and some individuals will not have as much as they expected.
At the Care Assistance Center, our team helps guide through these decisions and make a plan for end of life care. Our team is an estate planning attorney, financial advisor, and benefits specialist, among others. Financial planning and end of life planning often work very closely together.
3 ways that estate planning and financial planning go together when determining end of life care are:
- Protecting Assets: There are so many assets that have been paid for and protected all your life; you wouldn’t want to lose those now. The estate planning process can protect those assets such as houses, retirement savings, and more from unnecessary loss.
- Pay for Care: When we consider saving for retirement, many of us want to know that our money will go as far as we need it to. Our team can determine how to use that money in the wisest way.
- Determine the Need: Some couples have been so cautious, they will have money left over after their needs are met. Our financial planner and estate planning attorney can determine if that should go to the family after you pass away or if it can be used wisely now.
There are so many more considerations that come into play with our process. A few examples are Veteran Benefits or how to use Medicaid. Our team is here to help process through those decisions. Contact our team to start asking your questions today!